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Kuwait International Bank (Al-Dawli) celebrated its 38th anniversary today, after being officially introduced to the market in 1973 as one of Kuwait’s leading banking institutions.

Al-Dawli celebrated this occasion during an event held for its staff at The Regency Hotel where a number of the bank’s spokespersons gave short speeches and presented a competition and raffle draw with a dinner buffet.

Dr. Mahmoud Abul Eyoun, Kuwait International Bank’s CEO said: “The bank’s operations has come across many challenges, developments and transitions, indicating that, throughout the past 34 years of operation as Kuwait Real Estate Bank, the bank has carved its niche as one of the leading institutions in real estate sector.”

“We saw a turning point in 2007 where it obtained a license to convert to Islamic banking. Since then we have successfully been able to position ourselves among pioneer banking institutions in the Islamic world in terms of conversion from a specialized real estate bank into a full-fledged Islamic bank” added Dr. Abul Eyoun.

"We would like to seize this opportunity to convey our gratitude to all those who contributed to the establishment of this entity. I am confident that we will continue this journey together, the bank is really proud of having a working group at this level of performance and professionalism. We must take this opportunity to renew our commitment together to move forward in our journey as an effective institution in the Islamic banking industry.”

"I believe that giving attention to small details is the key behind success and great businesses. Everyone is responsible and involved in the success of the bank including Board of Directors, Executive Management, staff and workers.” Concluded Dr. Abul Eyoun

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Background information

On the first of July 2007, the Kuwait Real Estate Bank (incorporated in 1973) has been renamed to “Kuwait International Bank” to exercise its business as an Islamic bank.The Bank carries out all banking and investment transactions in compliance with the provisions of the Islamic Shari’ah and pursuant to the instructions and regulations issued by the Central Bank of Kuwait.The Bank’s business covers all banking services, of which, acceptance of deposits, exercising various Islamic financing transactions, carrying out direct investment transactions, issuing letters of credit (LCs), letters of guarantee (LGs), incorporation of companies, management of properties to the account of third parties and the purchase of lands and real properties.

On the first of July 2007, the Kuwait Real Estate Bank (incorporated in 1973) has been renamed to “Kuwait International Bank” to exercise its business as an Islamic bank.

The Bank carries out all banking and investment transactions in compliance with the provisions of the Islamic Shari’ah and pursuant to the instructions and regulations issued by the Central Bank of Kuwait.

The Bank’s business covers all banking services, of which, acceptance of deposits, exercising various Islamic financing transactions, carrying out direct investment transactions, issuing letters of credit (LCs), letters of guarantee (LGs), incorporation of companies, management of properties to the account of third parties and the purchase of lands and real properties.

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Hill & Knowlton is a leading international communications consultancy, providing services to local, multinational and global clients. The firm is headquartered in New York, with 79 offices in 44 countries, as well as an extensive associate network.